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Beta Wind Farm Pvt Ltd is planning to invest Rs 1,857 crore to setup a wind energy farm each in Tamil Nadu, Andhra Pradesh and Gujarat, according tothe subsidiary of Orient Green Power Company Ltd, owned by theShriram Group. Beta was earlier planning to set up the proposed farms with thesame total capital in Tirunelveli, Tuticorin and Theni , but itlater decided to split the 300-megawatt endeavour and go for twomore states, stating certain bottlenecks in Tamil Nadu. Orient Green Power, in a communication to the shareholders, said evacuation and infrastructure issues in Tamil Nadu had promptedBeta to revisit the plan. It has now decided to set up wind farmswith a generation capacity of 156 Mw in Tamil Nadu and 144 Mw inthe states of Gujarat and Andhra Pradesh, where also the returnsare expected to be equally attractive in terms of powergeneration . A consortium of 10 banks, led by Axis Bank, has sanctioned Rs 1,236crore as a rupee term loan to Beta, which is engaged in generation,accumulation, transmission, distribution and supply of electricity,besides setting up of and/or maintenance of wind energy farms. Theothers banks include Canara Bank, Dena Bank, Karnataka Bank,Tamilnad Mercantile Bank, Vijaya Bank and Indian Overseas Bank. For the loan, Orient Green Power had issued a corporate guaranteefor the project to Axis Bank, on behalf of Beta. Besides, GammaGreen Power Pvt Ltd, another Orient Green Power subsidiary engagedin the business of setting up of wind mills and wind farms, isplanning to purchase two WEGs at Gujarat, aggregating 4-MW assets.Towards refinance for assets of 3.98 Mw, it has a raised term loanfrom Bajaj Finance Ltd and Orient Green Power issued a corporateguarantee for Rs 23 crore in favour of Bajaj Finance. With this acquisition, total capacity of Gamma would increase to62.02 Mw. Orient Green Power Company Ltd is promoted by Shriram EPC, aShriram Group company, with investments from Bessemer VenturePartners of US and Olympus Capital Holdings, Singapore, for thecreation and ownership of renewable energy assets. The company isone of the largest independent operators and developers; itsportfolio includes biomass, biogas, wind energy and smallhydroelectric projects at various stages of development. As of September 2011, the company had 300 Mw of aggregate installedcapacity. This comprised 250 Mw of wind energy projects and 50 Mwof biomass projects. The company has set a target to become thecountry s largest renewable energy producer and other attractivemarkets, reaching 1,000 Mw by 2013. We are high quality suppliers, our products such as 304 Stainless Steel Coil , China Carbon Steel Strip for oversee buyer. To know more, please visits Spring Steel Strips.
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